Stout Market– Statistics And Analysis & Forecast To 2027Posted by Mrudula Anil Karmarkar on February 8th, 2021 The global stout market size is expected to reach USD 15.04 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.4% from 2020 to 2027. Shifting consumer inclination towards alcoholic drinks with richer taste and texture is boosting the market growth. Moreover, increasing preferences among consumers for premium drinks with nutritional benefits, such as significant amounts of antioxidants, for a healthy lifestyle are expected to offer new avenues for the market over the forecast period. Over the past few years, the young generation and working-class population have increasingly adopted the partying culture in pubs, bars, casinos, and even house parties across the globe. The U.S. is one of the countries with a vast bar and nightclub industry in the world. According to the statistics provided by the American Nightlife Association (ANA), in 2018, the U.S. bar and nightclub industry was valued at USD 26 billion and is witnessing a 2.9% Year on Year (YoY) growth. These statistics are opening new avenues for stout. Europe was the largest regional market for stouts, accounting for more than 35.0% in 2020. Stout was first introduced in the U.K. and it is still widely consumed as a traditional and premium beer in the region. North America is expected to witness significant growth in the years to come due to the increasing adoption of the product among millennials, young customers, and working-class people. People are increasingly visiting bars, nightclubs, casinos, and pubs across the U.S., thus expanding the market for premium beers, including stout. For instance, according to the American Nightlife Association (ANA), in 2018, an estimated 20.5 million people went to nightclubs or bars in casinos across the U.S. Moreover, out of the total sales of food and beverages in these bars and lounges, 35.0% of sales were beer and ale. These statistics are anticipated to increase the demand for the product over the forecast period. Stout Market Report Highlights
Manufacturers are launching new products by collaborating with breweries to cater to the increasing demand across the globe. For instance, in September 2017, Sufferfest Beer Company, a premium subsidiary of Sierra Nevada Brewing Company, launched stout under its functional beer category. This new line of stouts has a hint of coconut water and milk with cocoa beans. These new product launches are opening new opportunities for the market and increasing product visibility among consumers worldwide. Additionally, awareness regarding various health benefits associated with the product is propelling its demand. Stout is a rich source of natural antioxidants, vitamins, carbohydrates, proteins, coupled with low calories and zero fat or cholesterol. These nutritional properties help maintain cardiovascular health and support in the muscle rebuild. From the starting of the year 2020, due to the sudden breakdown of the novel coronavirus, almost all the countries around the world have imposed a strict lockdown at the country level to contain this deadly virus in their countries. This market situation has restricted the sales of any kind of alcohol across all the major countries. Due to such a situation, the sales of stout have been decreased across the globe. However, gradually, with the number of vaccines coming, the world market has led to the reopening of tourism and pubbing across the globe, thus opening new opportunities for the global market. Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/450957/ibb The market is slightly consolidated and the demand for stout has witnessed a rise in the past few years owing to its premiumization. Major manufacturers are adopting various strategies, including mergers & acquisitions, collaborations, product launches, and expansion of distribution channels, to capture a major share in the market and expand their customer base across the globe. For instance, in March 2020, Iron Maiden, the most popular and British-based heavy metal band, collaborated with Robinsons Brewery to launch a new line of stouts in the market. The new range of products is launched under the brand name, ‘Fear of the Dark’, containing 4.5% ABV. These new product launches are propelling the product demand among consumers, which is anticipated to boost the market growth over the forecast period. Some prominent companies operating in the global stout market include:
On-trade was the largest distribution channel with a share of more than 60.0% in 2020 due to the growing pubbing and partying culture among youngsters worldwide. Young generation customers and the working-class population are propelling the demand for the on-trade sales of premium products, like a stout, across the globe. The prevalence of house parties is also gaining pace in various countries, such as the U.S., France, the U.K., Germany, India, Australia, and China. In addition, the increasing employment, disposable income, and rising living standards across the major economies around the globe are resulting in higher spending on pubs, bars, casinos, and restaurants for premium drinks. Grand View Research has segmented the global stout market on the basis of distribution channel: Stout Distribution Channel Outlook (Revenue, USD Million, 2016 - 2027)
About Grand View Research Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare. For More Information:www.grandviewresearch.com Like it? Share it! More by this author |